secwatch.observer — SEC 8-K summary
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Issuer:     Terra Property Trust, Inc. (TPTA)
CIK:        0001674356
Form:       8-K
Filed at:   2022-05-02T23:59:59+00:00
Accession:  0001104659-22-054153
Event type: m_and_a
Sentiment:  positive
Materiality: 0.75
Item codes: 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Terra REIT to merge with Terra BDC; 0.595x conversion, closing Q3 2022
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- Each Terra BDC share exchanged for 0.595 shares of Terra REIT Class B common stock plus cash in lieu of fractional shares.
- Existing Terra REIT stockholders to own ~80.2% of combined company; former Terra BDC holders ~19.8%.
- Closing expected Q3 2022 subject to Terra BDC stockholder approval and customary conditions.
- Termination fee of $2.6M payable by Terra BDC under specified circumstances ($1.1M within 60 days).
- Combined company to keep name, management, and headquarters; board to have 6 directors (3 from each).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1674356/000110465922054153/0001104659-22-054153-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1674356/000110465922054153/tm2214138d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-22-054153

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